Rent in Canada hit a new high in July as students prepped for school, buyers sidelined: report
Data from Rentals.ca and research firm Urbanation says the average asking rent totalled $2,078 in the month.
Between June and July alone, the average asking rent rose 1.8 per cent, the most rapid month-over-month increase in the last eight months. Rentals.ca and Urbanation attributed the rise to a surge in post-secondary students signing leases before the fall, unprecedented levels of population growth and homebuyers holding off on purchases as interest rates have risen.
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